Item 2. Unregistered Sales of Equity Securities
ITEM
2. Unregistered Sales of Equity Securities and Use of Proceeds.
On
January 29, 2021, pursuant to an exemption from registration under Section 4(a)(2) of the Securities Act and Regulation D thereunder,
the Company issued 793 thousand shares of Class A common stock to Amagic Holographics Inc., an affiliate of K Laser Technology
Inc. (“K Laser”) in exchange for cancellation of $1.9 million in accounts payable owed by the Company to K Laser’s
affiliate.
We
did not receive any direct proceeds from the issuance of the shares, aside from a reduction of debt owed.
ITEM
3. DEFAULTS UPON SENIOR SECURITIES
None.
ITEM
4. MINE SAFETY DISCLOSURES
Not
Applicable.
Text extracted from the filing as submitted to EDGAR. Formatting, tables and exhibits are simplified for reading; the original document is authoritative for anything you rely on.